Are Bed Bath & Beyond Earnings Enough for Investors?
Bed Bath & Beyond reported its fiscal first-quarter earnings Wednesday after the markets closed.
Bed Bath & Beyond Inc. (NASDAQ: BBBY) reported its fiscal first-quarter earnings Wednesday after the markets closed as $0.93 in earnings per share (EPS) on $2.74 billion in revenue. That compared to Thomson Reuters consensus estimates of $0.94 in EPS on $2.74 billion in revenue. In the same period of the previous year, the retailer posted EPS of $0.93 and revenue of $2.66 billion.
The company gave guidance for the fiscal second quarter in the form of a 2% to 3% increase in comparable sales and $1.18 to $1.23 in EPS. There are consensus estimates of $1.23 in EPS on $3.03 billion in revenue for the second quarter.
Comparable sales in the first quarter of fiscal 2015 increased by roughly 2.2%, compared to an increase of 0.4% in last year’s fiscal first quarter.
Also during the most recent quarter, Bed Bath & Beyond repurchased about $385 million of its common stock, representing about 5.3 million shares. At the end of May, the remaining balance of the existing $2.0 billion share repurchase program was approximately $499 million.
The company had cash and cash equivalents of $615.2 million to end the quarter, compared to the $536.6 million in the same period of last year.
So far, shares have fallen over 7% year to date. However, in the past 52 weeks shares have gained about 16%.
Shares of Bed Bath & Beyond were down 2.7% at $68.39 shortly after Thursday’s opening bell. The stock has a consensus analyst price target of $75.33 and a 52-week trading range of $54.96 to $79.64.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
